Tibra Equities Europe Ltd Purchases New Position in PNC Financial Services Group Inc (NYSE:PNC)

Tibra Equities Europe Ltd purchased a new stake in shares of PNC Financial Services Group Inc (NYSE:PNC) during the third quarter, HoldingsChannel.com reports. The firm purchased 11,100 shares of the financial services provider’s stock, valued at approximately $1,556,000.

Other large investors have also made changes to their positions in the company. Westside Investment Management Inc. purchased a new position in shares of PNC Financial Services Group during the 2nd quarter worth approximately $29,000. Liberty Wealth Management LLC grew its holdings in shares of PNC Financial Services Group by 112.8% during the 3rd quarter. Liberty Wealth Management LLC now owns 232 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 123 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of PNC Financial Services Group during the 3rd quarter worth approximately $37,000. Redhawk Wealth Advisors Inc. purchased a new position in shares of PNC Financial Services Group during the 2nd quarter worth approximately $40,000. Finally, Old North State Trust LLC grew its stake in shares of PNC Financial Services Group by 108.8% in the 3rd quarter. Old North State Trust LLC now owns 307 shares of the financial services provider’s stock worth $43,000 after buying an additional 160 shares during the last quarter. Institutional investors own 80.68% of the company’s stock.

PNC has been the topic of several recent research reports. Robert W. Baird set a $141.00 price target on PNC Financial Services Group and gave the stock a “buy” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. upped their price target on PNC Financial Services Group from $147.50 to $155.50 and gave the stock an “overweight” rating in a research note on Monday. Wells Fargo & Co upped their price target on PNC Financial Services Group from $134.00 to $147.00 and gave the stock a “market perform” rating in a research note on Thursday, October 17th. UBS Group upped their price target on PNC Financial Services Group from $142.00 to $146.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Finally, Zacks Investment Research downgraded PNC Financial Services Group from a “hold” rating to a “sell” rating and set a $147.00 price target on the stock. in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $146.20.

In other PNC Financial Services Group news, Director Charles E. Bunch acquired 1,000 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $124.38 per share, with a total value of $124,380.00. Following the transaction, the director now owns 3,781 shares of the company’s stock, valued at approximately $470,280.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph E. Rockey sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $145.00, for a total value of $1,450,000.00. Following the completion of the transaction, the executive vice president now directly owns 18,453 shares in the company, valued at $2,675,685. The disclosure for this sale can be found here. Corporate insiders own 0.37% of the company’s stock.

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PNC stock traded down $1.36 during midday trading on Friday, hitting $151.71. The company’s stock had a trading volume of 45,560 shares, compared to its average volume of 1,544,125. The company has a market cap of $67.25 billion, a PE ratio of 14.18, a P/E/G ratio of 1.83 and a beta of 1.14. PNC Financial Services Group Inc has a 12 month low of $108.45 and a 12 month high of $154.75. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 1.10. The firm’s 50-day moving average is $143.15 and its 200-day moving average is $136.38.

PNC Financial Services Group (NYSE:PNC) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.80 by $0.14. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.41 billion. PNC Financial Services Group had a return on equity of 10.94% and a net margin of 24.96%. The firm’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 EPS. Analysts expect that PNC Financial Services Group Inc will post 11.33 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Thursday, October 17th were given a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $4.60 annualized dividend and a yield of 3.03%. PNC Financial Services Group’s dividend payout ratio (DPR) is presently 42.95%.

PNC Financial Services Group Profile

The PNC Financial Services Group, Inc operates as a diversified financial services company in the United States. The Retail Banking segment offers deposit, lending, brokerage, insurance, and investment and cash management services to consumer and small business customers through a network of branches, ATMs, call centers, and online banking and mobile channels.

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Want to see what other hedge funds are holding PNC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PNC Financial Services Group Inc (NYSE:PNC).

Institutional Ownership by Quarter for PNC Financial Services Group (NYSE:PNC)

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